The Nine Stocks Which Have Led the Nosedive in the Dubai Financial Market

The Dubai Financial Market General Index continues to deflate. Since the 3,665 level seen on October 25, the index has declined 6.8% until November 20.

Driving the decline are stocks from the consumer staples & discretionary and real estate & construction sectors among the nine classified by the exchange. Between the aforementioned dates, these sectors have dived 15% and 11% respectively. Telecommunication is a distant third, down by 6.5%.

There following are the nine stocks which have led this significant drop, each of which have fallen in double digits over the aforementioned period.

Arabtec Holding: All securities comprising the real estate & construction sector have declined between October 25 and November 20, led by Arabtec Holding PJSC. The company operates in the housing and commercial construction space and also provides infrastructure services. Its geographic expanse spans the United Arab Emirates, Middle East, and North Africa.

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Its stock has been the largest decliner on the Dubai Financial Market for the period outlined above. Down by 18.1%, the stock leads the four companies from the real estate & construction sector on this list.

Drake & Scull International: The stock with the second-biggest decline on the list is also from the real estate & construction sector. Shares of Drake & Scull International PJSC are the most heavily traded on the Dubai Financial Market.

The company, which operates in the construction space in the Middle East, Europe, Asia, and North Africa, has seen its shares decline by 16% from October 25 to November 20.

DXB Entertainments:Earlier known as Dubai Parks and Resorts PJSC, DXB Entertainments PJSC functions in the leisure and entertainment segment in the United Arab Emirates. Its offerings include theme parks, hotels and dining experiences.

The stock forms part of the consumer staples & discretionary sector according to the categorization by Dubai Financial Market and is by the far the biggest decliner from the sector, down 15.7% in less than a month.

The company which develops high-end residential, commercial, and for leisure properties has seen its stock plummet by 15.3% from October 25 until November 20.

Al-Madina For Finance & Investment Company:The Shariah-compliant private equity firm is engaged in direct investments, fund management, and financial services among other businesses. It is the only entrant from the investment and financial services sector in the list and has fallen by 12.5% from October 25 until November 20.

AAN Digital Service Holding Co: Similar to Al-Madina, AAN Digital Service Holding Co is the sole entrant in this list from the telecommunication sector. With a decline of 12.4% over the aforementioned period, the company’s stock has emerged as the sixth largest decliner.

Dar Al Takaful: At the seventh position is the only entrant from the insurance sector – Dar Al Takaful PJSC. The firm which offers a wide range of insurance and reinsurance products in accordance with Shariah law has seen its share prices decline by 12% from October 25 until November 20.

Union Properties: Rounding-off the four companies from the real estate & construction sector is Union Properties PJSC. The company offers real estate property investment, development, and management. Over the aforementioned period, its stock has been down 10.8%.

Emirates Investment Bank: At the bottom of our list is Emirates Investment Bank PJSC which offers investment and private banking services including portfolio and wealth management. Its stock, down 10% from October 25 until November 20, leads decliners from the banking sector as categorized by Dubai Financial Market.

Stocks of National Central Cooling Company PJSC (Tabreed) from the services sector, down 9.9%, and Dubai Islamic Insurance & Reinsurance Company (AMAN) from the insurance sector, down 9.8%, narrowly missed the list of double-digit decliners.